Ann: Response to TMT Analytics Report, page-2

G Medical Innovations Holdings Limited (ASX: GMV) (G Medical or the Company) is aware that on 10 April 2018, an analyst report was released by TMT Analytics in respect of the Company (Analyst Report).
The Analyst Report contained, amongst other things, information regarding production and sales targets for G Medical's Prizma Medical smartphone case and G Medical Patch, and prospective financial information based on those production and sales targets (Prospective Information).
At this time, and in accordance with ASIC Regulatory Guidance, G Medical does not consider that it has reasonable grounds for statements containing prospective information in relation to production and sales targets for its Prizma Medical smartphone case and G Medical Patch, or financial information based on those production and sales targets.
Although the Prospective Information was prepared and released by TMT Analytics rather than G Medical, G Medical wishes to ensure that investors do not make investment decisions based on the Prospective Information. The Analyst Report has now been withdrawn. The Company advises that investors who may have become aware of the Prospective Information should not make investment decisions based on the Prospective Information.
TMT Analytics has been engaged by and is paid by G Medical to provide ongoing research coverage. The Board did not approve the form of the Analyst Report which included the Prospective Information. The proposed Analyst Report had been provided to myself and our Chief Financial Officer, Mr Kobi Ben-Efraim, prior to its release. Neither Mr Ben-Efraim nor myself had approved the Analyst Report prior to its release.
In addition to the above, GMV notes the following:

• GMV is aware of the ASIC guidance regarding research reports and the making of statements including prospective information, including Regulatory Guide 264: Sell-side research and Regulatory Guide 170: Prospective financial information
• GMV has provided ASIC Regulatory Guide 264: Sell-side research to TMT for their information
• GMV will advise any analysts it engages moving forward (including TMT) that research reports are not released
  without Board approval
• GMV has now established a protocol to ensure that proposed analyst reports provided to any director or officer of
  GMV are provided to the rest of the Board for review and comment prior to publication. Each of the directors and officers have confirmed in writing that they will abide by this protocol. Any breaches of this protocol may result in disciplinary action up to and including termination of employment.